Account - Law Dictionary Search Results
Home Dictionary Name: account Page: 2Paymaster-General (see now Accountant-General
Paymaster-General (see now Accountant-General; the duties of Paymaster-General transferred to Accountant-General: see (English) Judicature Act, 1925, ss. 133 et seq.). Under the (English) Chancery Funds Act, 1872 (35 & 36 Vict. c. 44), the office of Accountant-General of the Court of Chancery was abolished, and the duties transferred to the Paymaster-General, and by the (English) Supreme Court of Judicature (Funds, etc.) Act, 1883, there was only one accounting department for the Supreme Court of Judicature. Rules with respect to the Paymaster-General were authorised to be made by the (English) Judicature Act, 1875, s. 24, and, further, s. 30 of that Act, and s. 4 of the Act of 1883, supra, the present practice and procedure being controlled by the (English) Supreme Court Funds Rules, 1927....
Chartered Accountant
Chartered Accountant. See ACCOUNTANT.Means a chartered accountant as defined in clause (b) of sub-s. (1) of s. 2 of Chartered Accountants Act, 1949 and who has obtained a certificate of practice under sub-s. (1) of s. 6 of that Act. [Advocates' Welfare Fund Act, 2001 (45 of 2001), s. 2 (e)]...
Accounts
Accounts, accounts, in relation to, commercial undertakings of a government, includes trading, manufacturing and profit and loss accounts and balance-sheets and other subsidiary accounts, Comptroller and Auditor-General [Duties, Powers and Conditions of Service Act, 1971 (56 of 1971), s. 2 (a)]...
Current account transaction
Current account transaction, means a transaction other than a capital account transaction and without prejudice to the generality of the foregoing such transaction includes--(i) payments due in connection with foreign trade, other current business, services, and short-term banking and credit facilities in the ordinary course of business,(ii) payments due as interest on loans and as net income from investments,(iii) remittances for living expenses of parents, spouse and children residing abroad, and(iv) expenses in connection with foreign travel, education and medical care of parents, spouse and children. [Foreign Exchange Management Act, 1999 (42 of 1999), s. 2 (j)]...
Vote on account
Vote on account, refers to the advance to be made by Parliament to enable the Government to carry on its expenditure until passing of general appropriation Bill, Constitution of India, Art. 116.The motion of vote on account indicates the total sum required and break up of the amount ministry-wise; amendments can be moved for reduction of the grant or omission of items composing the grant, Rules of Procedure and Conduct of Business in Lok Sabha, 10th Edn., 2002, r. 214...
Savings account
Savings account, means a savings bank depositor's account usually bearing interest or containing conditions (such as advance notice) to the right of withdrawal, Black's Law Dictionary, 7th Edn., p. 1345....
Money due or to become due on account of pension
Money due or to become due on account of pension, The words money due or to become due on account of pension' occurring in s. 11 of the Pensions Act, 1871 includes the commuted portion of the pension payable to an employee after his retirement, Union of India v. Wing Commander R.R. Hingorani (Retd), AIR 1987 SC 808 (814): (1987) 1 SCC 551. [Pensions Act, (23 of 1891), s. 11]...
Live account
Live account, means an account that is not settled, Sydicate Bank v. Channaveerappa Beleri, AIR 2006 SC 1874: 2006 (4) JT 579: 2006 (4) SCALE 368: 2006 (5) Supreme 115: 2006 (3) SLT 518: 2006 (5) SCJ 556: 2006 (5) SCJD 502: 2006 (6) SRJ 128: 2006 (131) Camp Cas 303....
Foreign currency account
Foreign currency account, means the account held or maintained in currency other than the currency of India or Nepal or Bhutan. [Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2000, Reg. 2 (iii)]...
Deposit account
Deposit account, an account of sums lodged with a bank and acknowledged to be so lodged by a 'deposit receipt' given by the banker to the depositor, not to be drawn upon by cheques, and usually not to be withdrawn except after a fixed notice, but bearing interest either at some fixed rate, or very often at 1 per cent. less than the Bank of England rate, and therefore at a rate varying from time to time. The depositor is only a creditor of the bank for the amount of deposit and interest (if any). See BANK.As to the power of an incorporated building society to receive money on deposit, see (English) Building Societies Act, 1874 (37 & 38 Vict. c. 42), s. 15; Building Societies Act, 1894 (57 & 58 Vict. c. 47), ss. 14 and 15....
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